Posted To: MBS Commentary
On an otherwise quiet morning, bond markets had been holding in reasonably strong territory. MBS and Treasuries began the domestic session at slightly weaker levels, but found support with most of yesterday’s gains intact. There was no significant economic data this morning and no notable headlines until 9:50am. Then the Greece-related headlines started to hit wires. The gist was that Greece’s creditors are/were close to working out a debt deal . The timing and composition of the news was odd. No one was expecting any such announcement today, and the details seemed sketchy, at best. Still, markets took it seriously at first. Treasury yields spiked modestly, led by a more sincere spike in German Bund yields. (Germany has been the biggest safe haven for sovereign debt in Europe and thus…(read more)
Via:: MBS MID-DAY: Bonds Battle Back After Getting Hit by Greece Headlines
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